Feb 24: vietnam central bank keeps dollar exchange at vnd20,828

Vietnam’s central bank set the U.S dollar exchange rate at VND20.828 on Friday, unchanged since Dec 26, 2011. The central bank has kept the U.S dollar exchange rate stable for the longest period since early 2011.

Commercial banks are allowed to apply effective exchange rate +-1% from the official exchange rate set by the central bank, accordingly, the ceiling price for a dollar today was VND21,036.

Some commercial banks changed dollar prices today, ranged from VND20,790-20,810 for bid and VND20,850-29,950 for ask, respectively.

Dollar Price Quote for Feb 24th, 2012.

Bank	Bid	Change	Ask	Change
Vietcombank	20,810	10	20,870	20
ACB	20,790	0	20,850	0
BIDV	20,800	0	20,850	0
Eximbank	20,800	0	20,850	0
SeABank	20,810	0	20,950	0
Vietinbank	20,810	5	20,850	5

 

 

 

 

It is said that Dollar exchange rate have sharply dropped after the Lunar New Year-now due to high remittances sent home by Vietnamese residing oversea during the holidays, low demand and a huge surplus of  dollar in January.

Source TEI/StoxPlus

Tags: Vietnam banking industry, Vietnam banks, Vietnam finance